India's forex reserves decline to USD 299.17 billion

The total reserves stood at USD 299.40 billion the week before.

Foreign currency assets, the biggest component of the total foreign reserves, came down by USD 269 million to USD 269.28 billion for the week ended January 28, the Reserve Bank of India said in its weekly data released today.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves, the apex bank said.

The country's gold reserves remained unchanged at USD 22.47 billion, while both special drawing rights (SDRs) and reserve position in the IMF improved marginally.

The SDRs were up USD 32 million to USD 5.19 billion, while India's reserve position in the IMF increased by USD 14 million to USD 2.262 billion, the RBI data showed.